In this article, I will talk about one of the Ministry of Housing programs (Malak Program) It is one of the programs offered by the Ministry of Housing based on the Real Estate Unit Ownership, Sorting and Management System issued by Royal Decree No. (M/85) dated 2-7-1441 H. The system replaces the Real Estate Unit Ownership and Sorting System issued by Royal Decree No. (M/5) dated 11-2-1423 H and cancels all provisions that contradict it.

I drew my attention in the program within the statute in its eighth article:

Investment of owners" association funds and common parts

- The investable common parts may be invested and the funds registered in the owner's association account in excess of the amount of the approved budget may be invested by a decision issued by the General Assembly. This means that this article must be optimally exploited and utilized in the exploitation of the site, whether by renting shops or a location for the bank for exchange services (exchange), as well as the possibility of exploiting the roof and investing it in building a unit and renting it out if the system allows and the opportunities are very many, it is important to exploit minds and attract specialized competencies or use consultants in investment and marketing to create opportunities that may bring amounts and income that cover all the obligations of the association and may overflow and turn to profitability. Here, the president of the association and the property manager have a major responsibility in achieving this desired goal.

Real estate brokerage and marketing specialist

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